Life is never dull at M&C Saatchi but the quoted ad group will be hoping its latest reorganisation, following the retirement of CEO Moray MacLennan (although he’ll doubtless pop up somewhere else) will introduce a period of stability after a turbulent last few years.
Carlo Noseda has been appointed CEO of a newly created M&C Saatchi Sport & Entertainment Europe to grow the business with a focus on on M&A. Richard Thompson will chair M&CS&E with global CEO Steve Martin and UK CEO Jamie Wynne-Morgan both leaving. Noseda is also president of M&C Italy.
M&C Executive chair Zillah Byng-Thorne (former boss of Future Publishing) says:”Today’s announcement underscores our group focus on building an enhanced and more collaborative operating model across M&C Saatchi. It reflects our ambitions to accelerate our growth trajectory, adding significant scale in Europe, particularly within the exciting sport and entertainment space.
“I am delighted that Marcus will drive our plans forward in the UK, and the new, simplified structure will enable our clients to better benefit from our leading, full-service creative proposition. Our sport and entertainment business has evolved significantly over time and, as we look to accelerate the next stage of growth.”
M&C’s London ad business is still looking for a CEO and CCO. The agency group is currently valued at a modest £170m, leaving it a takeover target for someone.